Weebit Nano raises $6.6 million AUD in a two-tranche placement
Israel-based RRAM developer Weebit Nano announced it has raised $6.6 million AUD via a two-tranche placement. The funds will be used to complete its memory module development, transfer the technology to a production fab and continue its work on discrete RRAM memory technology.
Weebit says that the placement was priced at a discount of around 22% to its current share price. The company now hopes to accelerate its development work and make up lost time from the COVID-19 shutdown.